Good day Sir,
can trading losses be carried forward and deducted from property income. Like for example the company only have profits from property income?
Thanks you
Ask the Tutor ACCA TX-UK
Corp Tax
The trading losses of a trading company will only be c/f against future trading profits of that trade - not against property income. If the only income it has is from its property business then any such losses of that business will be c/f against that future business property income
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